Iceland’s Rating Outlook Revised to Stable From Negative by S&P

Iceland had its credit rating outlook revised to stable from negative by Standard & Poor’s Ratings Services, which cited economic growth in the country after two years of “severe contraction.”

“Significant headway has been made in restructuring the private-sector balance sheet and we expect the process to be mostly completed by mid-2012,” S&P said. The BBB-/A-3 sovereign ratings were affirmed.

Iceland had its credit rating outlook revised to stable from negative by Standard Poor s Ratings Services, which cited economic growth in the country after two years of severe contraction. Significant headway has been made in restructuring the private-sector balance...